What's next: Reddit is likely to go public next week.
Reddit gets ready for IPO, setting a top valuation of $6.4 billion
https://www.axios.com/2024/03/11/reddit-ipo-valuation
https://www.axios.com/2024/03/11/reddit-ipo-valuation
What's next: Reddit is likely to go public next week.
23 Comments
empireOfLove2@lemmy.dbzer0.com · 79 pts · 2y
$6.4 billion for a company that has never turned a profit in the last 18 years? Lol
Blaze@dormi.zone · 37 pts · 2y
Yes, seems delusional at best
empireOfLove2@lemmy.dbzer0.com · 23 pts · 2y
Well nothing new for Huffman to be delusional and out of touch. Affluenza afflicted ass.
banghida@lemm.ee · 2 pts · 2y
This is quite common on the wall street. Companies are in the business of selling stock, not making money on the free market.
qwed113@lemmy.world · 23 pts · 2y
I’m pretty sure the leadership just wants to cash out ASAP.
FiniteBanjo@lemmy.today · 2 pts · 2y
Otherwise they might aim even higher like Twitter did.
DarkThoughts@fedia.io · 10 pts · 2y
Honestly I think he's gonna sell Reddit as soon as he can get a decent enough offer. It's a sinking ship already.
WraithGear@lemmy.world · -39 pts · 2y
A hammer doesn’t turn a profit either. Its a tool used for a purpose.
thantik@lemmy.world · 43 pts · 2y
Yes it does. Hammers are like $0.20 to make, and sell for like $6. And they don't cost millions to keep working either. This isn't the example you think it is, hahaha.
Carighan@lemmy.world · 25 pts · 2y
Plus even if you just look at it as a tool, it does turn a profit, via being a tool. That's why a business gets a few, despite them originally costing them money. There's expected value in the hammer. It exists, physically, and it has turned a profit plenty before.
WraithGear@lemmy.world · 2 pts · 2y
My intention is that the value of the thing is what it can be used for. Its a tool that can be used to spread propaganda, and control the narrative. For the owner it’s a means to an end. Guess i should have clarified.
Revan343@lemmy.ca · 2 pts · 2y
That works for privately owned companies-- the current example is Twitter, which is useful for pushing propaganda.
It doesn't work for publicly owned companies, because public investors are only interested in profitting
Aphelion@lemm.ee · 12 pts · 2y
WraithGear@lemmy.world · 1 pts · 2y
I was intending to use it as a metaphor. Meteors usually are not the exact thing they describe. Its goal doesn’t have to be a thing that turns a profit, when it can be used as a tool in other ways. I didn’t do a good enough explanation of my meaning
HootinNHollerin@lemmy.world · 2 pts · 2y
Jim Cramer, that you?
WraithGear@lemmy.world · 1 pts · 2y
I get the other responses as i wasn’t very clear on my meaning, but this confuses me.
HootinNHollerin@lemmy.world · 2 pts · 2y
Ah was joke reference to the Mad Money tv show stock investor guy, who notoriously has a following of people who invest the opposite of what he recommends
Nutteman@lemmy.world · 1 pts · 2y
A hammer is a tool to be used to smash my testicles into a paste
NotMyOldRedditName@lemmy.world · 9 pts · 2y
Any bets on how long after going public they go back on their promise to never get rid of old.reddit.com?
FiniteBanjo@lemmy.today · 6 pts · 2y
Feel bad for the people who buy it lol, excluding the day traders planning to inflate it before riding it into the ground.
haui_lemmy@lemmy.giftedmc.com · 2 pts · 2y
Remember the wolf of wall street when pump and dump schemes could get you jailed? Jordan Belfort looks like the honest guy in today‘s economy.
FiniteBanjo@lemmy.today · 1 pts · 2y
When bad things happen to bad people, the world feels right.
ICastFist@programming.dev · 3 pts · 2y
Pffft, I love how "market" news never have to deal with reality checks. Guess I'll make a shovelware company, make 2 shit games and announce an IPO, "Totally expecting at least 1 billion valuation, it's totally worth it, you guys"
Atlas48@ttrpg.network · 2 pts · 2y
enshittification imminent.